Kelly Services Inc. (KELYA) Raised to “Hold” at Zacks Investment Research
Kelly Services Inc. (NASDAQ:KELYA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “KELLY SERVICES, INC. provides temporary office clerical, marketing, professional, technical, light industrial, home care services, management services and other business services to a diversified group of customers through offices located in major cities of the United States, Australia, Canada, Denmark, France, Ireland, Italy, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Russia, Spain, Switzerland and United Kingdom. Kelly Temporary Services provides office clerical, marketing, professional, technical, semi-skilled light industrial and management services. “
Kelly Services (NASDAQ:KELYA) opened at 18.99 on Wednesday. The stock has a market cap of $723.39 million, a P/E ratio of 11.68 and a beta of 1.75. The firm’s 50-day moving average is $19.10 and its 200 day moving average is $19.29. Kelly Services has a one year low of $14.35 and a one year high of $20.98.
Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Wednesday, August 10th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.02. Kelly Services had a net margin of 1.14% and a return on equity of 7.03%. The company earned $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the business posted $0.18 EPS. Kelly Services’s revenue was down .7% compared to the same quarter last year. On average, analysts anticipate that Kelly Services will post $1.57 EPS for the current fiscal year.
In other Kelly Services news, insider Steven Shelby Armstrong sold 18,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $19.36, for a total value of $348,480.00. Following the transaction, the insider now owns 42,335 shares in the company, valued at approximately $819,605.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director B Joseph White sold 7,899 shares of the firm’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $19.11, for a total value of $150,949.89. Following the completion of the transaction, the director now owns 22,090 shares in the company, valued at approximately $422,139.90. The disclosure for this sale can be found here. 16.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. LSV Asset Management purchased a new position in shares of Kelly Services during the second quarter worth $2,564,000. Vanguard Group Inc. raised its position in Kelly Services by 5.2% in the second quarter. Vanguard Group Inc. now owns 2,364,925 shares of the company’s stock valued at $44,863,000 after buying an additional 116,027 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Kelly Services during the second quarter valued at approximately $1,617,000. GAM Holding AG raised its position in Kelly Services by 84.4% in the second quarter. GAM Holding AG now owns 173,088 shares of the company’s stock valued at $3,283,000 after buying an additional 79,244 shares in the last quarter. Finally, Systematic Financial Management LP bought a new position in Kelly Services during the second quarter valued at approximately $1,483,000. Institutional investors own 64.78% of the company’s stock.
About Kelly Services
Kelly Services, Inc is a workforce solutions provider. The Company provides workforce solutions in over three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). It operates in seven segments: Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), APAC Commercial, APAC Professional and Technical (APAC PT), and Outsourcing and Consulting Group (OCG).
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